Brokerages predict that Forty Seven Inc (NASDAQ:FTSV) will report earnings per share (EPS) of ($0.56) for the current quarter, according to Zacks. Zero analysts have issued estimates for Forty Seven’s earnings. The company is scheduled to announce its next quarterly earnings report on Monday, November 12th.
According to Zacks, analysts expect that Forty Seven will report full-year earnings of ($2.96) per share for the current fiscal year, with EPS estimates ranging from ($3.51) to ($2.41). For the next year, analysts expect that the company will post earnings of ($2.73) per share, with EPS estimates ranging from ($3.05) to ($2.41). Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Forty Seven.
Forty Seven (NASDAQ:FTSV) last posted its quarterly earnings data on Monday, August 13th. The company reported ($2.52) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($1.84).
FTSV has been the subject of several research reports. Zacks Investment Research cut shares of Forty Seven from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Morgan Stanley initiated coverage on shares of Forty Seven in a research report on Monday, July 23rd. They issued an “overweight” rating and a $25.00 price objective for the company. ValuEngine upgraded shares of Forty Seven from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Canaccord Genuity initiated coverage on shares of Forty Seven in a research report on Monday, July 23rd. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Credit Suisse Group initiated coverage on shares of Forty Seven in a research report on Monday, July 23rd. They issued an “outperform” rating and a $24.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.75.
In other Forty Seven news, major shareholder Peter Nieh purchased 67,500 shares of the stock in a transaction dated Friday, August 17th. The stock was bought at an average price of $15.18 per share, for a total transaction of $1,024,650.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher J. Schaepe purchased 66,542 shares of the stock in a transaction dated Thursday, August 16th. The shares were acquired at an average price of $15.03 per share, with a total value of $1,000,126.26. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 300,900 shares of company stock valued at $4,540,995.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Board of Trustees of The Leland Stanford Junior University bought a new position in Forty Seven in the second quarter valued at approximately $11,252,000. BlackRock Inc. lifted its stake in Forty Seven by 1,203.9% in the third quarter. BlackRock Inc. now owns 446,363 shares of the company’s stock valued at $6,659,000 after buying an additional 412,129 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Forty Seven by 51.2% in the third quarter. JPMorgan Chase & Co. now owns 346,066 shares of the company’s stock valued at $5,164,000 after buying an additional 117,142 shares in the last quarter. FMR LLC bought a new position in Forty Seven in the second quarter valued at approximately $5,333,000. Finally, Baker BROS. Advisors LP bought a new position in Forty Seven in the second quarter valued at approximately $4,000,000. Hedge funds and other institutional investors own 41.06% of the company’s stock.
FTSV traded down $0.42 during midday trading on Friday, hitting $12.79. The company had a trading volume of 62,395 shares, compared to its average volume of 85,576. Forty Seven has a twelve month low of $12.02 and a twelve month high of $16.86.
Forty Seven Company Profile
Forty Seven Inc, a clinical-stage immuno-oncology company, focuses on developing therapies to activate macrophages for the treatment of cancer. It is developing 5F9, a humanized IgG4 subclass monoclonal antibody against CD47 that is in Phase 1b/2 clinical trials used for the treatment of cancer; and FSI-189, an antibody that binds to SIRPa for the treatment of solid tumors.
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